In this webinar recording, Barbara Coward, founder of MBA360admissions.com, and a former admissions director and MBA recruiter, discusses the pros and cons of applying to an MBA program this summer.
How do you want to spend the summer?
One of the first questions you should ask yourself is how do you want to spend your summer. Are you ready to work on your essays till late at night instead of going on holiday? There is no right or wrong answer, just a matter of personal preference, Barbara says. Know that if you have a goal that you want to achieve, you will have to make some sacrifices.
Where are you today?
The best way to come up with an answer is to do some reflection. Think about where you are today. Are you happy with where you are today? Do you want to be somewhere else? Where do you want to be tomorrow?
Think of business school and the MBA as your personal sailboat of getting you to where you want to go. Your direction depends on how you adjust the sails. Spend some time thinking if you want to be in the same place a year from now. If you are ok with the status quo, maybe you don’t need to apply right now.
The decision to go to business school is a tough decision to make any time, but particularly now during a pandemic. The uncertainty now is really off the charts in terms of deciding what to do. Barbara said she has talked with many prospective candidates who don’t know what to do and this is understandable. If you have difficulty defining your path forward, don’t be too hard on yourself, she advises.
Try to see the future
You could try to predict what will happen in two years if you stay at work and if you pursue an MBA degree. Take into account factors such as the economy, the outlook for your organization, career opportunities and earning potential.
She warned against making a decision based on what you think the schools would do. Don’t apply just because you think that schools will be less demanding towards applicants this year or refrain from applying because you think the applicant pool will be bigger. Put all these considerations aside and look in the mirror. Focus on yourself and ask yourself what you want.
For more insights into the decision-making process, watch the recording. It may prove crucial to your decision.